Posts Tagged ‘distressed properties’

For the past forty years an average of about 1.5 million new homes have been built nationally, and through years 2008-2011 an average of +/- 640k homes were built per year, according to Charfen Institute. That is about 3.44 million homes that were not built in the period of about 3 years. The years of recession caused a major slowdown in new residential construction, but little did we know that this major slowdown would have such an impact in the days ahead.

Here in Southern California, there is tons of optimism because the real estate market is “hot” and homes are selling fast; buyers are left to struggle getting an offer accepted. So what is really going on in our backyard of Southern California? For starters, there are less new homes and resale homes available to purchase. If you’ve been out shopping for a new home, especially in the Inland Empire area, they are selling fast, and tracks are beginning to sell before even built.

The interesting fact is that what feels like a “hot” real estate market is still technically a recovering market for most of Southern Californians. For example, in San Bernardino, Riverside, & Los Angeles County combined, there is an estimated slightly over 90,000 defaulted homes and less than 7% of those home are listed on the market for sale and receiving the appropriate help. There is a number reasons for this stat, one of the main causes is because many distressed homeowners still fear their upside down situations and feel cornered and out of options. This is far from the truth. Distressed homeowners are not alone and have options, and help is available.

So what do all these numbers mean? Simple, for current homeowners (non-distressed) that have a need to sell, whether it is due to a job transfer, home upgrade, or downsizing, then this is a great window of opportunity for you to seize. If you are a buyer in today’s real estate market, then you must have your financing ready, and absolutely move fast when you find the perfect home match. Also, whether you are a home seller or home buyer you must work with a knowledgeable real estate agent that understands two vital components (out of the many) of today’s transaction; what the real estate market is doing and strong negotiating skills.

For distressed homeowners, this is your year to breakthrough and take action. Don’t allow the fear of the unknown control you. You have options, take action, and put an end to the unnecessary mortgage pain before the Mortgage Debt Relief Act expires in December.

As always, we provide FREE reports and information about today’s market at http://www.nissiagents.com. You may always call our FREE 24-hour voice-recorded line at, 1.866.476.1677 Ext. 455 with any questions you may have about today’s market. Feel free to connect with me personally at: www.joindna.com. If this article helped you in any way, please share it with a loved one. The more you give, the more that comes back to you.

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